Trinity Biotech Plc Stock Price, News & Analysis

Trinity Biotech (TRIB) has acquired EpiCapture , marking its entry into oncology diagnostics. The acquisition, valued at approximately $3 million plus $0.5 million in milestone-based payments, was paid through 1.7 million ADS issuance. EpiCapture develops a non-invasive urine-based test for monitoring aggressive prostate cancer progression, potentially reducing the need for invasive biopsies. The test, when combined with PSA testing, has shown promising results in clinical studies. Trinity Biotech plans to leverage its manufacturing expertise and certified laboratory to commercialize the test in the US and explore additional markets.

Trinity Biotech plc (Nasdaq: TRIB) has acquired Metabolomics Diagnostics, an Irish deep-tech company, for approximately $1.3 million. This acquisition provides Trinity Biotech with a mass spectrometry platform combined with machine learning-powered bioinformatics. The key asset is PrePsia, an innovative test that can predict preeclampsia risk as early as the 12th week of pregnancy.

Trinity Biotech plans to commercialize PrePsia in the U.S. market through its New York-based Immco reference laboratory, with first revenues expected in 2025. The company will manufacture the test reagents in-house. This acquisition aligns with Trinity's strategy of combining established capabilities with cutting-edge technologies to address important clinical issues in maternal and fetal health.

Preeclampsia affects up to 5% of pregnancies and can cause serious health issues for mothers and babies. The PrePsia test uses mass spectrometry to identify metabolites in blood samples and a machine learning algorithm to deliver a personalized preeclampsia risk score.

Trinity Biotech plc (Nasdaq: TRIB) has announced plans to initiate a Continuous Glucose Monitoring (CGM) market study in India, furthering its intended collaboration with Bayer. This study aims to gather feedback from diabetes patients and healthcare professionals to refine the design of Trinity Biotech's next-generation CGM solution for the Indian market. The company has entered a non-binding Letter of Intent with Bayer for launching a CGM device in China and India.

India, with over 100 million people living with diabetes, presents a significant market opportunity. Trinity Biotech aims to increase access to CGM technology across India by offering a low-cost care solution. The company's next-generation CGM features an innovative modular design that enhances user experience while reducing cost and waste.

Trinity Biotech plc (Nasdaq: TRIB) has provided an update on its continuous glucose monitor (CGM) technology development. The company was granted a European patent (EP3703565) for a novel method enhancing indwelling sensor performance, particularly for glucose biosensors. Recent testing confirmed the effectiveness of this patented process in improving their glucose biosensor performance.

The innovative 'conditioning' process, housed within Trinity Biotech's reusable transmitter unit, significantly reduces the CGM's initial 'run-in' time, enabling quicker reliable measurements. It also improves the device's accuracy relative to laboratory reference methods and enhances the Mean Absolute Relative Difference (MARD). This advancement aims to create a more user-friendly, fully self-calibrating device, addressing the current need for periodic re-calibration using separate finger-stick blood glucose monitors.

Trinity Biotech plc (Nasdaq: TRIB) has appointed Adrian Donohue as Chief Commercial Officer. With over 25 years of experience in healthcare product sales and marketing, Donohue joins Trinity Biotech as part of the company's transformation agenda. CEO John Gillard emphasized the importance of this appointment in driving performance and profitability across their product lines, including the new TrinScreen HIV rapid testing product.

Donohue expressed excitement about joining Trinity Biotech during its transformation and preparation for entering the continuous glucose monitor (CGM) market. His extensive background includes successful product launches in EMEA and Japan, team leadership, and innovative commercial strategies. Donohue's career spans roles at Menarini, Eli Lilly, Roche, Shire Pharma, and most recently as Global Senior Director at Biomarin.

Trinity Biotech plc (Nasdaq: TRIB) has announced increased orders for its TrinScreen HIV product, leading to an upward revision of its 2024 sales guidance. The company now expects TrinScreen HIV sales to reach approximately $10 million in 2024, up from the previous estimate of $8 million. This increase is attributed to strong demand and successful scaling of production capacity.

Additionally, Trinity Biotech has increased manufacturing capacity for FlexTrans™, its FDA 510(k) cleared viral transport medium, in anticipation of potential increased demand due to the WHO's declaration of Mpox as a Public Health Emergency of International Concern. The company aims to contribute to diagnostic testing for this global health threat.

Trinity Biotech plc (Nasdaq: TRIB) has appointed David Ouston as Biosensor Marketing Director to drive growth for its innovative continuous glucose monitoring (CGM) technology. Ouston brings 16 years of experience in the glucose monitoring and diabetes health sectors, including roles at Johnson & Johnson and LifeScan. CEO John Gillard emphasized the importance of this strategic appointment for Trinity's long-term growth, particularly in rapidly expanding diabetes and wellness markets.

Ouston expressed enthusiasm for joining Trinity Biotech, highlighting the company's vision for an accessible and innovative CGM in global markets. He aims to leverage his extensive global leadership experience in promotion and market access strategies for diabetes management devices to help deliver Trinity's disruptive solution worldwide.

Trinity Biotech plc (Nasdaq: TRIB) reported strong Q2 2024 financial results, with total revenues of $15.8 million, up 14% year-over-year and 7.7% quarter-over-quarter. The growth was driven by strong demand in the TrinScreen HIV business. Point-of-Care product revenue reached $4.6 million, growing 119% year-over-year and 53% quarter-over-quarter. The company reiterated its guidance to achieve approximately $20 million of annualized run-rate EBITDASO on annualized run-rate revenues of about $75 million by Q2 2025. Trinity Biotech continues to make progress on its Comprehensive Transformation Plan, including manufacturing consolidation, supply chain optimization, and corporate services centralization. The company is also advancing its next-generation Continuous Glucose Monitoring system development.

Trinity Biotech plc (Nasdaq: TRIB), a commercial stage biotechnology company specializing in diabetes management solutions and human diagnostics, has announced it will release its Q2 2024 financial results on Wednesday, August 14, 2024. The company will host a conference call at 8:30 AM ET on the same day to discuss the results.

Investors and interested parties can access the call through various methods:

• US Toll-Free: 1-877-407-0784
• International: 1-201-689-8560
• Conference ID: 13748426
• Webcast link available
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